Parker-Hannifin (PH) to Release Quarterly Earnings on Thursday

Parker-Hannifin (NYSE:PH) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $6.10 per share for the quarter. Parker-Hannifin has set its FY24 guidance at $23.90-24.50 EPS and its FY 2024 guidance at 23.900-24.500 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.76 EPS. On average, analysts expect Parker-Hannifin to post $24 EPS for the current fiscal year and $26 EPS for the next fiscal year.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $4.51 on Tuesday, reaching $558.95. 39,234 shares of the company were exchanged, compared to its average volume of 577,480. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The company’s 50-day moving average is $543.95 and its two-hundred day moving average is $479.82. The firm has a market cap of $71.77 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.03 and a beta of 1.52. Parker-Hannifin has a 1-year low of $318.32 and a 1-year high of $570.15.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Truist Financial started coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays increased their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.